Managing Risk

Bad Advice: Use Insurance to Clean Up Halloween Pranks

Bad Advice: Use Insurance to Clean Up Halloween Pranks

The scariest thing I saw this Halloween was a series of articles giving the horrific advice to make an insurance claim for Halloween pranks. Following their advice will cost you much more than whatever money the insurance company pays out.

6 Steps to Take in Response to Equifax Security Breach

6 Steps to Take in Response to Equifax Security Breach

The most recent Equifax data breach has left the door wide open on personal security. Getting your credit report is just the first step in protecting your identity. To fully protect your identity, you'll need to go beyond the three big credit bureaus to protect yourself against banking fraud, tax fraud, Social Security fraud, and other criminal activities.

The Hidden Danger of Freezing Your Credit

The Hidden Danger of Freezing Your Credit

If you are wondering "should I freeze my credit?", give careful thought to the pros and cons of a credit freeze. Make sure you understand the hidden consequences of freezing your credit before making this decision.

New Scam Taking Advantage of Fear Over Equifax Security Breach

New Scam Taking Advantage of Fear Over Equifax Security Breach

In the wake of the Equifax Data Breach, consumers are justifiably fearful of their financial security and how the stolen information could be used against them. This fear, however, is creating an opportunity for scammers to extract even more information from consumers, or to make new victims by stealing information from people who are not part of the original security breach.

How To Opt Out of Equifax's Arbitration Agreement

How To Opt Out of Equifax's Arbitration Agreement

Equifax's offer to provide one-year of free credit monitoring service comes with an arbitration clause which waives your legal right to sue Equifax. Here is how to opt-out of the arbitration clause and preserve your rights to sue Equifax or join a class-action lawsuit.

Equifax Response to Cyberattack is Lacking

Equifax Response to Cyberattack is Lacking

The Equifax response to the 2017 cyberattack is a good start but falls far short of what is needed for the company to live up to their responsibilities. Equifax's current offer to victims does not address the magnitude of the damage which was caused by the breach, and the true cost of Equifax's mistakes will be borne by consumers.

The Difference Between Copays and Coinsurance

The Difference Between Copays and Coinsurance

The world of health insurance can sometimes seem overly complex. While you are probably familiar with a copay, the coinsurance provision can be confusing. Unfortunately, coinsurance also represents a much larger risk to your finances than copayments do.

How Much Life Insurance Is Enough

How Much Life Insurance Is Enough

Calculating the right amount of insurance is as much art as it is science. There are a wide variety of methods developed to calculate life insurance needs, including ones that rely on rules of thumb and make it easy to come to a number. Simpler methods make calculating your life insurance needs so simple you can do it in a few seconds with a calculator. But are they accurate?

The Largest Risk to Your Investment Portfolio Isn't a Market Crash

The Largest Risk to Your Investment Portfolio Isn't a Market Crash

Despite the fears of a bear market, don't focus on avoiding losses in your stock portfolio if you haven't reviewed your insurance recently. The biggest risk to your investment portfolio and your wealth isn’t a stock market crash, it’s a lawsuit.

These Five Questions Could Help Determine If You Have Enough Life Insurance

These Five Questions Could Help Determine If You Have Enough Life Insurance

Life insurance isn't a "set it and forget it" part of your financial plan. Each year you will need to review your life insurance needs and see if you have enough life insurance to provide for your family. Even though it's not comfortable, asking these questions each year can help you determine if your family has enough life insurance to provide for their needs.

You Might Be Entitled to Free Healthcare - Regardless of Income

You Might Be Entitled to Free Healthcare - Regardless of Income

The annual out-of-pocket limit in your health insurance contract is one of the most important clauses for you to understand. Keeping track of the limit and knowing if and when you reach the limit can help save thousands of dollars in healthcare costs....

Sell your Life Insurance Policy with a Life / Viatical Settlement

Sell your Life Insurance Policy with a Life / Viatical Settlement

Have a life insurance policy that you don't want anymore? Don't cancel it. You can sell it to an investor typically for between 50% and 80% of the death benefit, significantly more than the cash value.